At the same time, 250 jobs are to go as the company consolidates printing into its newest facility in Queens.
The company announced the move at the same time as revealing results for the second quarter of 2006, showing that earnings were flat, with net income rising only 0.8% from $60.8m last year to $61.3m.
The newspaper will switch from a traditional 54-inch web-width format to 48-inch width for all editions -- the same as The Wall Street Journal in Europe and US Today.
The move follows a trend for broadsheets to switch formats in a bid to win back readers -- especially commuters. In the UK, The Independent was the first to switch to a tabloid in September 2003, followed by The Times, which proclaimed its new edition to be "compact" rather than tabloid.
The New York Times, known as the "grey lady", was once a venerable institution in the US newspaper industry but its image has been tarnished by the scandal of Jayson Blair, a reporter who was revealed to have made up stories in 2003. Editor Howell Raines and his deputy Gerald Boyd lost their jobs in the fallout from the affair.
It has also struggled financially, and in September last year parent company The New York Times Company revealed it was cutting 500 jobs, including 45 from The New York Times.
Janet Robinson, president and CEO of The New York Times Company, said: "The New York Times editorial and design staffs are exploring opportunities for adapting the Times's signature look and feel while also making the paper more user-friendly.
"Our research has shown that readers, particularly young readers and commuters, prefer the smaller size. We are confident that both readers and advertisers will embrace this update and continue to look to The New York Times, whether in print or online, for the highest quality journalism."
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